Portuguese Five-Year Yields Approach Record Low

Portugal’s bonds rose, pushing five-year yields toward a record low, after Prime Minister Pedro Passos Coelho said the nation’s finances were strong enough to exit its bailout program without a precautionary credit line.

German 10-year bund yields were little changed after sliding to the lowest in a year. Portugal will be the third country to leave a rescue program, following Ireland’s exit in December and Spain’s the following month. That leaves Cyprus and Greece still in receipt of bailouts from international lenders, known as the troika, four years after the Greek government was granted outside aid at the onset of the euro-area debt crisis.